If the Critics of Globalization Are Correct,all of the Following

question 22

Multiple Choice

If the critics of globalization are correct,all of the following things must be shown except:

• A)the share of national income received by labor,as opposed to the share received by the owners of capital should have declined in advanced nations.
• B)even though labor's share of the economic pie may have declined,living standards need not deteriorate if the size of the total pie has increased sufficiently to offset the decline in labor's share.
• C)the decline in labor's share of national income must be due to moving production to low-wage countries,as opposed to improving production technology and productivity.
• D)economic growth in developed nations has offset the fall in unskilled workers' share of national income,raising their living standards.

Acknowledge the conditions under which equitable remedies are available in legal disputes.

Understand the mechanisms for resolving legal disputes involving contracts and the roles of parties involved.

Recognize the importance and implications of electronically stored information in legal proceedings.

Comprehend the principles and processes involved in class action suits.

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Definitions:

Factory Overhead Costs

Expenses related to the day-to-day operations of a factory that are not directly tied to a specific product, such as utilities, depreciation, and maintenance.

Period Costs

Expenses that are recognized in the income statement when incurred, instead of being tied to inventory, include utilities and rent for office space.

Selling Expenses

Costs incurred directly and indirectly in selling products or services, including advertising, sales staff salaries, and commission.

Administrative Expenses

Expenses that relate to the general operation of a company and do not directly tie to production activities, such as office supplies and salaries of administrative personnel.